Friends of the Academy of Music Inc (EIN 800545150) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2010

Legal Domicile

Principal Officer

Brian Schwartz

Phone

3108360340

Tax Period

2023-07-01 to 2024-06-30

Friends of the Academy of Music Inc, founded in 2010, is a small nonprofit in the Education sector that reported $231K in total revenue in fiscal year 2023. Expenses of $200K left a modest 13% surplus.

Mission

To support the public high school's Music and Performance Academy curriculum through fundraising and facilitating community support for performances, equipment, attendance at competition events, and covering select costs of producing theater and music productions.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $135,280

Program Service Revenue $114,025

Investment Income $11

Other Revenue $-18,375

TOTAL REVENUE $230,941

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $185,991

Other Expenses $199,968

TOTAL EXPENSES $199,968

Year-over-Year Comparison

	2023	2022	Change
Revenue	$230,941	$223,619	+0.0%
Expenses	$199,968	$253,654	-0.2%
Net Income	$30,973	$-30,035	-2.0%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

100

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Brian Schwartz	President	2.00	Officer Director	$0	$0	$0
Carrie Murray	Vice President	2.00	Officer Director	$0	$0	$0
Loretta Herndon	Secretary	2.00	Officer Director	$0	$0	$0
Sherry Ollins	Treasurer	2.00	Officer Director	$0	$0	$0
Farrah Noah	Director	1.00	Director	$0	$0	$0
John Jones	Director	1.00	Director	$0	$0	$0
Katherine Anderson	Director	1.00	Director	$0	$0	$0
Michelle Espinosa	Director	1.00	Director	$0	$0	$0
Amber Hawkins	Director	1.00	Director	$0	$0	$0
Corinne Haire	Director	1.00	Director	$0	$0	$0
Lawanda Dwellingham	Director	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$230,941	$199,968	$208,961	$30,973
2023	$223,619	$253,654	$177,988	$-30,035
2022	$274,030	$136,615	$208,023	$137,415
2021	$167,835	$139,282	$70,608	$28,553
2020	$139,012	$185,874	$42,055	$-46,862
2019	$223,356	$219,199	$88,917	$4,157

Friends of the Academy of Music Inc